| ITS facilitates trades between members located in different markets. Through it, a member in any participating market may send orders to trade at the bid or offer on any other participating market. The ITS Plan governs the participation of the current nine member markets Ñ American Stock Exchange, Boston Stock Exchange, Chicago Board Options Exchange, Chicago Stock Exchange, National Association of Securities Dealers, National Stock Exchange, New York Stock Exchange, Philadelphia Stock Exchange and Pacific Exchange. It is administered by the participating markets, and is filed with and approved by the Securities and Exchange Commission.
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